UK company profit warnings at three year high, says report July 27, 2014 The number of profit warnings issued by FTSE 100 companies was at a three-year high in the first quarter, according to a report by Ernst & Young. In its quarterly Analysis of UK Profit Warnings report, the consultancy firm revealed that companies listed on the London Stock Exchange issued a total of 74 warnings [...]
The 2014 Commonwealth Games, and five other reasons Glasgow is still city of culture July 23, 2014 The Commonwealth Games opened in Glasgow last night and over the next two weeks tens of thousands of Londoners will make their way to the cultural heart of Scotland. They come as Scotland edges ever closer – according to the polls – to independence, giving the international showcase even more significance. But unlike other cities [...]
As Burberry faces a shareholder revolt over chief Christopher Bailey’s pay, is he worth it? July 10, 2014 Qing Wang, professor of marketing and innovation at Warwick Business School, says Yes. The success of Burberry is largely attributable to its seamless combination of creativity with tradition, which many think epitomises the essence of Britishness. Its chief executive Christopher Bailey is highly experienced (he worked as a designer at Gucci, then as creative director [...]
Mulberry banks on cheaper bags to revive sales June 12, 2014 Mulberry is pinning its hopes on a new cheaper range of leather handbags to win back British customers after an ill-fated attempt to seem more upmarket sent profits tumbling last year. Under previous chief executive Bruno Guillon, who left the group in March, Mulberry was criticised for alienating its core customers after attempting to move [...]
Analyst Views: Following its results, do you think Mulberry is positioned for growth? June 12, 2014 HELEN NORRIS | BARCLAYS We would expect improvements as the year progresses against easier comparatives and with product launches. The recent Tessie Bag introduction has been received very well with full price like-for-likes recovering and there are hopes for the Cara Delevingne’s collection in September. JOHN CUMMINS | WH IRELAND Following the results, we leave [...]
Mulberry share price drops as profits slump June 12, 2014 Luxury brand Mulberry has seen its share price drop one per cent on the back of news that the company suffered a massive drop in profit before tax of 45 per cent for the year ended 31 March. The handbag maker has issued two profit warnings so far this year and lost its chief executive [...]
Mulberry hires the boss of Italian jeweller Buccellati as a non-exec June 10, 2014 MULBERRY has bolstered its board by hiring the chief executive of Italian luxury jeweller Buccellati as a non-executive director. The appointment of Thierry Andretta comes at a turbulent time for the luxury group, which has issued four profit warnings over the past two years. The firm is also searching for a new chief executive following [...]
London Report: Economic data puts focus on UK housing market and growth June 9, 2014 ECONOMIC data out this week is set to shine a light on the UK’s steady return to health after the recession. The Office for National Statistics will tomorrow release April’s manufacturing data, which is forecast to show a 0.3 per cent rise in output. Construction output data – also likely to show a rise for [...]
Radley plots ambitious growth plans after strong sales figures May 11, 2014 RADLEY, the purveyor of handbags stamped with its famous Scottish Terrier logo, is set to follow in the footsteps of other British fashion brands by pushing into Asia to tap the region’s burgeoning middle class consumers. The private equity backed company, which started life on a market stall in Camden, is eyeing ambitious growth plans [...]
Introducing Yummy: The rise of HSBC’s metrosexual shopper March 21, 2014 It hasn’t been an easy ride recently for luxury brands operating in emerging markets. This week, Mulberry lost its chief executive, following a shock profit warning in January, and brands Hermes, Kering and LVMH have seen their stocks slide over ten per cent since the autumn. The continued worries about the slowdown in the Chinese [...]